TLDR
- David Hirsch, the former chief of the crypto asset and cyber unit in the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), has left the agency after serving for nearly 9 years.
- Hirsch was the SEC’s lead enforcer against cryptocurrency exchanges and decentralized finance (DeFi) projects, spearheading several high-profile enforcement actions during his tenure.
- Hirsch’s departure comes amid growing political attention towards crypto regulation, with some presidential candidates criticizing the SEC’s aggressive approach towards the industry.
- The SEC has been expanding its crypto enforcement capabilities, nearly doubling the size of the crypto asset and cyber unit prior to Hirsch’s appointment as its chief.
- Hirsch expressed pride in the work done by his team but did not disclose his future plans, stating that he would share more details after taking a break and spending time with his family.
David Hirsch, the former chief of the crypto asset and cyber unit in the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), has announced his departure from the agency.
Hirsch, who served at the SEC for nearly 9 years, took to LinkedIn to share the news, marking the end of his tenure as the SEC’s lead enforcer against cryptocurrency exchanges and decentralized finance (DeFi) projects.
Hirsch’s departure comes at a time when the crypto industry is facing increasing scrutiny from regulators, particularly the SEC.
During his time as the head of the crypto asset and cyber unit, Hirsch oversaw several high-profile enforcement actions against prominent players in the crypto space.
Notable cases include the SEC’s lawsuits against Coinbase, Binance, and the settlement with Kraken, where the exchange agreed to pay a $30 million fine and pare back certain services.
Reflecting on his time at the SEC, Hirsch expressed immense pride in the work accomplished by his team. “I’m particularly proud of the historic work done by the Crypto Assets and Cyber Unit team I had the privilege to lead,” he stated in his LinkedIn post.
Hirsch credited his success to the collaborative efforts of his colleagues and the support of mentors, leaders, and partners across various regulatory and law enforcement agencies.
Hirsch’s departure also coincides with growing political attention towards crypto regulation, with some presidential candidates criticizing the SEC’s aggressive approach towards the industry.
Former President Donald Trump, who is seeking the Republican nomination for the 2024 election, has previously criticized the SEC’s stance on crypto, stating that the industry is “moving out of the U.S. because of hostility towards crypto.”
While Hirsch did not disclose his future plans, he mentioned that he would take a break and spend time with his family before announcing his next endeavor.
“I look forward to sharing more about that soon, but for now, I’m excited for a break and travel with my family before my son heads to college in the fall,” he said.
